Data Management as Business Transformer02.23.2017
New Research Underscores Importance of Data Management in Facilitating Business Transformation
22 February, 2017
Eighty-six percent of respondents cited data quality as being critical to supporting successful transformation projects and nearly half of asset managers polled anticipate exploring managed services
BOSTON – February 22, 2017– Eagle Investment Systems LLC, a BNY Mellon company and leading provider of financial services technology, together with A-Team Group, today published a research paper offering new research demonstrating the extent to which data management capabilities underpin the business-transformation initiatives of asset managers.
The research paper, “How Agile Data Management Can Power Business Transformation,” featured a survey of senior level data management executives, which identified two primary drivers for business-transformation initiatives – the realization of new efficiencies and the need to facilitate growth. The biggest gating item that either slows or altogether precludes asset managers from pursuing transformation projects remains an overwhelming reliance on legacy systems, a barrier that was cited by 95% of those polled. As it relates to mapping out and executing business transformation plans, 86% cited that data quality is absolutely critical to success.
The survey also revealed that investment firms are exploring alternatives to wholesale re-engineering projects to upgrade back- and middle-office technology platforms. Nearly half (47%) said their organization will consider the use of managed services to simplify operations and eliminate certain manual processes, while roughly one in ten will look to fully outsource their data management needs.
Among the more notable findings from the survey:
• Eighty-six percent regard high data quality as critical to supporting business transformation plans.
• Among the benefits of implementing a strong data management foundation, respondents most frequently cited risk mitigation (89%), improved decision-making (74%) and improved agility (71%) as the most significant operational gains.
• Given the growing appreciation for data, nearly half (46%) of those polled claimed that their organization had a Chief Data Officer.
• Among the most prominent barriers in establishing a data management foundation to support business transformation, respondents cited legacy systems (95%), budget (94%) and data silos (92%) as the top three hurdles to overcome.
• When asked about future business transformation strategies, 47% said they would explore managed services, while 13% identified they would consider a fully outsourced solution.
The full white paper, with additional findings from the survey, can be found here. Eagle will be participating in a free webinar on the topic on March 7, 2017, hosted by A-Team Group’s Data Management Review. Marc Rubenfeld, Head of Eagle Solutions for EMEA and APAC, along with other business executives, will share best practices in navigating business transformation initiatives as part of the webinar. Interested participants can register here.
Notes to editors
Eagle Investment Systems
Eagle is committed to helping financial institutions worldwide grow assets efficiently with its award-winning portfolio management suite of data management, investment accounting and performance measurement solutions that are delivered over its secure private cloud, Eagle ACCESSSM. Eagle deploys trusted solutions and services that create operational efficiencies and help reduce complexity and risk. Eagle Investment Systems LLC is a subsidiary of BNY Mellon. Additional information is available at http://www.eagleinvsys.com/ or follow us on Twitter @Eagleinvsys.
BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment management and investment services in 35 countries and more than 100 markets. As of Dec. 31, 2016, BNY Mellon had $29.9 trillion in assets under custody and/or administration, and $1.6 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com. Follow us on Twitter @BNYMellon or visit our newsroom atwww.bnymellon.com/newsroom for the latest company news.
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